The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-06-29
BUSINESS OUTLOOK.
General Reports Of Trade st Nearly All Points
Highly Encouraging.
Temporary Stripgency In the New York
Money Market-Substantial Decrease
of Business Failures.

VI.
in their weekly review of trade, say: The
failure OF the Fidelity Bank OF Cincinnati,
with sucn evidences of rottenness and fraud
that three officials have been locked up on
criminal charges, is the natural fruit Of the
wheat corner, but has disturbed business
during the past week quite extensively.
The prospect that depositOrs may recover
nothing; that more than thirty other banks
which deposited there have losses TO bear
and that the fraudulent rehypothecation of
cOllstarals for loans will entangle the re-
sources of many who had nothing to do
with the wheat operation, makes the dis
turbance felt in many quarters. These
events justify the precautions advised for
weeks past in this review, with respect to
the probable failure of the wheat corner
and its consequences. Withdrawal Of
funds from New York to meet immediate
needs at the West has caused temporary
striDgency here, which SPECTATORS have
magnified, but foreign exchange is so near
the shipping point and the supply of un-
used funds abroad is so large that relief
would come quickly If the needs here
.hould become serious Moreover, large
disbursements by the Treasury in July are
now close at hand. In half-yearly settle
ments, in the struggle to liquidate el0r-
nous speculatlons and in preparation for
summer dizziness, however, there may be
some pressure for money during the re-
naming days OF June. AT nearly all other
points money is re ported in good supply.
General reports of business al nearly all
points are highly encouraging, and the
increasing prospect of good crops adds TO
the previous prevailing confidence. Col
lections are generally fair or good and the
volume of business large for the season.
The dry goods trade is co nparstively in
active, as usual at this period, but consid
cradle movement after July is anticipated
Mems wooden goods are decidedly dull but
in dress goods and fiannels the trade is fair.
Cottons are unchanged in the main, but
print cloths are quoted at s %, with large
sales. The liquidation in cotton proceeds
slowly, but prices have declined =; for the
week.
Wheat has fallen about 5 cents, though
partial corner in June still makes quota
tions here cents or more above those for
Jn.N
Pork products yield little, though still
held at Chicago above the level else where.
In the stock market liquidation has been
the feature. DistTust OF parties and seGuri-
ties thought to be even remotely come cted
with the Cincinnati speculation is obvious
and there is less confidence as TO the effects
of the interstate act. heavy increase In
shipments by lake and canal is reported,
and enforcement of the law threatens to
stop manufacturing and mining az numer
Gus points. Under all the circumstances
the strength OF the market is surpris ng,
especially when il is remembered that new
securities for several hundred millions have
been listed this year.
The iron market waits THE outcome OF
labor contests. Railroad building seems to
have been checked little, but the present
demand for most iron and steel products
seem better. Other labor contests are dis
appearing.
Real estate at the West is still unusually
active, and though the boom is off the
boom, so to speak, 10 visible reactioa in
prices is to be expected at present.
The business failures during the last
seven days number for the United States
III, for Canada 20, total 1877, as compared
with 2l3 last week and l62 the week pre-
vious in the corresponding week of last
year.